InCoin Eng (crypto news)

2021-12-22 17:33:02 XRP Ledger master server update released

The developers of XRP Ledger have announced the release of a new version 1.8.2 of Rippled, the original XRP Ledger protocol server. This update fixes problems with transaction queuing and the problem with increased transaction fees seen in XRPL recently, as well as introducing some optimizations and small fixes to improve the performance of the Ledger as a whole.

In early December, the XRP Ledger experienced performance glitches that resulted in delayed transactions and increased fees.

As WrathofKahneman, a respected member of the XRP community, explains on Twitter, the problem was not related to network bandwidth, but resulted from a huge influx of new coins and trust lines that all set up. Since they all go through multiple nodes connecting these wallets (like XUMM) and applications to XRPL, they created congestion and disconnected from the network. Open / Comment

2021-12-21 20:05:15 BitMEX will issue its own token

Cryptocurrency derivatives exchange BitMEX announced the release of its own token BMEX and announced an airdrop.

Existing and future traders on the platform can earn an asset in the form of a discount on trading commissions. BMEX will also reward new users with tokens for registering with KYC procedures.

Another way to earn tokens is through a referral program.

The exchange will accrue BMEX to users and will hold its first airdrop on February 1, 2022, distributing the coins to their accounts.

Holders of the asset will receive a number of benefits, including:

higher deposit yields on BitMEX Earn;
Early access on favorable terms to new products;
Free access to BitMEX Academy training courses. Open / Comment

2021-12-21 18:51:02 Ask The Doctor sold off 31 billion SHIB and intends to sue the creator

Canadian pharmaceutical site Ask The Doctor has sold off all of its 31 billion SHIB investment in SHIB. It first bought tens of billions of SHIB for $1.5 million in early December. The intermediary for the purchase was the Kraken exchange.

Even then, some users warned the company that it was following the advice of an army of SHIB community bots. Later it turned out that besides SHIB, the Canadian company holds other "mem" altcoins like FLOKI, as well as ADA, DOGE and MATIC.

However, already on December 20, the management announced its decision to get rid of investments in SHIB completely.

A couple of hours later, a series of tweets appeared on Twitter with references to potential fraud from the SHIB community. They also suspected that the founder of the high-profile Squid Game scam scheme might be SHIB's chief ideologue and developer. Ask The Doctor said it plans to sue the creator of the token. Open / Comment

2021-12-21 16:09:02 Parler, the social network of Trump supporters, will add support for NFT

Donald Trump supporters' favorite social network Parler will add support for NFT. This is reported by Reuters, citing an announcement by the company. According to the announcement, the developers intend to expand their services by introducing NFT.

"Parler will continue to develop its digital services with NFTs that build communities and foster creativity while maintaining its commitment to free speech and security," the announcement claims.

Details about the innovation of non-interchangeable tokens, as well as a timeline, remain undisclosed. Former U.S. first lady Melania Trump announced the launch of her own NFT marketplace. It will be Parler that will run the marketplace, according to the press release.

Instagram is also working on integrating NFT. The company is considering the creation of so-called "collectibles." However, it remains unclear what exactly such a function would be. Open / Comment

2021-12-20 18:53:02 Shiba Inu promises to launch the "Shibarium" scaling solution soon

Shiba Inu (SHIB) may soon announce the launch of a layer 2 scaling solution. In addition, the project is also thinking about mastering the meta universe space.

Ryoshi, the creator of the Shiba Inu project, has previously announced work on a solution called "Shibarium" in his blog.

ShibaSwap developer Eric M said that Shibarium might launch "very soon". However, he didn't give any exact timeline, but only added that "you don't need a timeline if you trust the project. That's how Shib has always worked. Besides, he said, "setting a clear deadline is no guarantee of success.

According to onchain data, the number of Shiba Inu hodlers has increased by 7% in the last 20 days. Perhaps not the least of it was the expectation of new technical solutions from the project. Open / Comment

2021-12-20 16:49:02 Hackers steal $30 million from Grim Finance

Cryptocurrency platform Grim Finance, powered by Fantom Opera, reported on Twitter on December 19 that it had been attacked by hackers. As a result, more than $30 million in cryptocurrencies were stolen from the platform. The operator did not provide further details on what tokens and in what amounts were withdrawn from the platform.

Hackers accessed the platform's wallet through the beforeDeposit() function, using a malicious token contract. The exploit was detected in the cryptocurrency wallet contract. Therefore, Grim Finance suspended the acceptance of deposits to wallets to protect users' money from the potential risk of withdrawal by attackers.

The developers asked users to promptly withdraw assets from the platform, as all wallets have been compromised and money is at risk of hacking.

Grim Finance thanked companies such as Beefy, Tomb, SpiritSwap and FTM Alerts that provided it with information about the cyberattack. Open / Comment

2021-12-20 15:27:02 Ripple is at the top of the list for likelihood of big growth in 2022

Experts investorplace brought out the top 5 cryptocurrencies in terms of the likelihood of a big price rise in 2022, and Ripple XRP is among them.

According to experts, the crypto market may be in for a rough ride at the end of 2021, but things will improve significantly in early 2022. They have put out the top 5 cryptocurrencies in terms of likelihood of a big price increase in 2022, and Ripple XRP was among them.

Ripple XRP could rise as analysts believe a final decision on the lawsuit with the SEC can be expected in the coming weeks. The evidence Ripple has seems much more plausible than the SEC's, which seems more like a cop-out.

Therefore, we can expect a significant jump in the price of Ripple XRP in early 2022. Other experts are also predicting an increase in the value of the asset, stressing that this could happen regardless of the outcome of the lawsuit, between two weeks and a couple of months. Open / Comment

2021-12-18 18:55:06 Cornell University professor: "bitcoin's days are numbered"

Eswar Prasad, professor of international trade policy at Cornell University, believes that bitcoin will soon cease to exist, giving way to more environmentally friendly cryptocurrencies.

Eswar Prasad, author of "The Future of Money: How the Digital Revolution is Transforming Currencies and Finance," said this on CNBC's "Squawk Box Europe. He explained that bitcoin has been very volatile over the past few years. Thus, in November, it reached a record high of $69,000, but now BTC is trading at $46,000.

In addition, Prasad criticized bitcoin for the high energy costs of mining it. Considering that there used to be only a few cryptocurrencies and today there are several thousand, many of them, according to Prasad, are more useful and environmentally friendly than bitcoin.

"Bitcoin uses a transaction validation mechanism that destroys the environment," Prasad said. Open / Comment

2021-12-18 16:13:02 Paraguay's Parliament approved a bill on cryptocurrency mining

The Paraguayan Senate approved a bill that would regulate the mining and trading of cryptocurrencies. The Chamber of Deputies will discuss it as early as 2022.

The bill introduces the concept of "virtual goods" as a result of mining cryptocurrencies. It is proposed to designate mining itself as one of the industries, and the resulting "virtual commodity" should be reflected in the financial statements of the relevant companies.

Miners will request permission from the Paraguayan Secretariat of Industry and Commerce to consume energy on an industrial scale, as well as apply for a license for their activities.

In addition, there are plans to create a registry of trading platforms operating in this country.

It is important that the South American country, which has a record surplus of energy and one of the lowest tariffs (five U.S. cents per kWh) in the world, creates a legal framework for cryptocurrency mining. Open / Comment

2021-12-17 18:59:02 Justin Sun announces his departure from the Tron Foundation

Tron founder Justin Sun has announced that he will be leaving the Tron Foundation to take over as Grenada's representative to the World Trade Organization. According to him, he is not leaving the project, but rather "stepping away from active involvement and leadership roles."

"I will still engage with the Tgopa community," he wrote.

Sun said his decision contributes to the decentralization of the Tron network, which is run by 27 elected "superrepresentatives." The Tron Foundation and BitTorrent had previously withdrawn from their ranks, he stressed.

In his new position, Sun intends to fight for the interests of developing countries and promote blockchain in the WTO. In an interview with CoinDesk, he said he also plans to work to legitimize cryptocurrencies in Latin American countries after the "success of El Salvador."

Amid the news, the price of the TRX token collapsed from levels around $0.085 to near $0.082. Open / Comment